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Optimal Voting Rules

Listed author(s):
  • Alex Gershkov
  • Benny Moldovanu
  • Xianwen Shi

We derive the incentive compatible and ex-ante welfare maximizing ( utilitarian) mechanism for settings with an arbitrary number of agents and alternatives where the privately informed agents have single-crossing and single-peaked preferences. The optimal outcome can be implemented by modifying a sequential voting scheme that is used in many legislatures and committees. The modification uses a flexible majority threshold for each of several alternatives, and allows us to replicate, via a single sequential procedure, the entire class of anonymous, unanimous, and dominant strategy incentive compatible mechanisms. Our analysis relies on elegant characterizations of this class of mechanisms for single-peaked and single-crossing preferences.

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File URL: http://hdl.handle.net/10.1093/restud/rdw044
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Article provided by Oxford University Press in its journal The Review of Economic Studies.

Volume (Year): 84 (2017)
Issue (Month): 2 ()
Pages: 688-717

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Handle: RePEc:oup:restud:v:84:y:2017:i:2:p:688-717.
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